Lower Output, Higher Won Hurt Hyundai

By

Kyong-Ae Choi

Updated April 25, 2013 11:28 a.m. ET

SEOUL—Hyundai Motor Co. said its first-quarter net profit declined 15% from the same period a year earlier because of work stoppages and the South Korean won's rise against the U.S. dollar—even as a weaker Japanese yen presents a fresh competitive challenge.

South Korea's largest auto maker by volume has been battling a global slowdown in demand, declining domestic sales and competitive pressure from Japanese car makers, whose...